World · 44 minutes ago
Philippine peso hits record low against the US dollar
The Philippine peso has dropped to an all-time low of 62.71 against the US dollar, losing about 6% of its value since January 1. Rising oil prices force Philippine importers to convert more pesos to dollars for crude oil. International investors are also moving money from developing economies to safer US dollar assets, pushing the peso lower.
Reported by Al Jazeera · How we write briefs